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Federal Personal Income Taxes
Taxes imposed by the federal government on the annual income of individuals or households.
Marginal Tax Rate
The tax rate applied to an individual's or entity's last dollar of income, indicating the percentage of tax paid on additional income.
Average Tax Rate
The fraction of total income that is paid in taxes, calculated by dividing the total amount of taxes paid by the total income.
Incentive To Work
Factors, such as financial rewards or benefits, that motivate individuals to engage in employment.
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